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Rupee rises 17 paise to close at 85.41 against US dollar

Mumbai, May 9 (PTI) The rupee pared its initial losses and settled for the day higher by 17 paise at 85.41 (provisional) against the US dollar on Friday, as likely intervention by the Reserve Bank of India helped contain excess depreciation of the rupee. Forex traders said the rupee opened on a weak note on the escalation of hostility between India and Pakistan, however, RBI intervened to prevent major weakness. At the interbank foreign exchange, the domestic unit opened at 85.88 and moved between the intra-day high of 85.32 and the low of 85.88 against the greenback. The unit ended

Markets tumble as India-Pak conflict flares up; Sensex, Nifty tank over 1 pc

Mumbai, May 9 (PTI) Stock market benchmark indices Sensex and Nifty tumbled over 1 per cent each on Friday as tensions soared between India and Pakistan, fuelling fears of a wider conflict. Extending its previous day’s decline, the 30-share BSE benchmark gauge tanked 880.34 points or 1.10 per cent to settle at 79,454.47, in a largely range-bound trading. The NSE Nifty dropped 265.80 points or 1.10 per cent to 24,008. India on Thursday night swiftly thwarted Pakistan’s fresh attempts to strike military sites with drones and missiles, including in Jammu and Pathankot, after foiling similar bids at 15 places in

India and Pakistan have been in conflict since 1947 Partition. A look at its troubled legacy

NEW DELHI, May 9, 2025 (AP) — India and Pakistan’s latest military conflict has expanded, days after India carried out airstrikes in Pakistan that followed an attack by gunmen on tourists in India-controlled Kashmir last month. The two nuclear-armed rivals have exchanged artillery shells, gunfire, missiles and drones, killing civilians on both sides and raising concerns of a wider war. The fresh round of confrontation is yet another escalation of a decades-long conflict over the disputed Kashmir region that began after a bloody partition of India in 1947. Here’s a look at the troubled legacy of Partition that has dictated

India offers to slash tariff gap by two-thirds in dash to seal trade pact with Trump

NEW DELHI, May 9 (Reuters) – India has offered to slash its tariff gap with the U.S. to less than 4% from nearly 13% now, in exchange for an exemption from President Donald Trump’s “current and potential” tariff hikes, two sources said, as both nations move fast to clinch a deal. This would mean that the average tariff differential between India and the U.S., calculated across all products without weighting for trade volume, would be reduced by 9 percentage points, in one of the most sweeping changes to bring down trade barriers in the world’s fifth largest economy. The United

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